Reis: Apartment Vacancy Rate unchanged in Q2 at 4.7%

Reis reported that the apartment vacancy rate was at 4.7% in Q2 2019, unchanged from 4.7% in Q1, and unchanged from 4.7% in Q2 2018. The vacancy rate peaked at 8.0% at the end of 2009, and bottomed at 4.1% in 2016. From chief economist Victor Calanog at Reis: The apartment vacancy rate was flat in the quarter at 4.7% - a zero net change from a year ago. After climbing 60 basis points from a low of 4.1% in Q3 2016, the vacancy rate has remained near 4.7% since the first quarter of 2018. The national average asking rent increased 1.2% in the second quarter while effective rent, which nets out......(read more)

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